KUALA LUMPUR, June 17 — FGV Holdings Bhd’s share price was lower in the early trade amid recent news about its privatisation plans by the Federal Land Development Authority (Felda).
At 10.02 am, FGV’s share price was 1.0 sen easier at RM1.30 with 64,300 shares traded.
On Monday, Felda said it has dispatched the offer documents for its plan to privatise FGV, with the offer closing at 5 pm on Monday, July 7, 2025, unless extended.
The offer formed part of Felda’s unconditional voluntary takeover bid to acquire all remaining FGV shares at RM1.30 each.
Despite holding a collective 82.34 per cent stake through Felda and its subsidiary, Felda Holdings Company Sdn Bhd, the agency said it has limited influence over FGV’s management as it does not control the board.
The latest bid, launched on May 26 at RM1.30 per share, mirrored Felda’s unsuccessful earlier attempt to privatise FGV in 2020.
In 2020, Felda triggered a mandatory takeover offer after increasing its stake in FGV from 33.66 per cent by acquiring shares from Retirement Fund Inc (KWAP) and Urusharta Jamaah for RM658 million.
FGV, which debuted in 2012 at RM4.55 a share, raised RM10.5 billion in one of Malaysia’s largest initial public offerings. Its share price has since declined significantly, prompting repeated privatisation efforts.
— Bernama
